Assets Management Corporation of Nigeria (AMCON) and Risk Management Association of Nigeria (RIMAN) have partnered to promote professionalism in Nigeria.
Assets Management Corporation of Nigeria stressed the need for consistent collaboration with Risk Management Association of Nigeria in promoting professional practice and capacity building in the country.
Managing director of AMCON, Ahmed Kuru made the observation during a stakeholder’s interaction at the bad bank’s office in Lagos.
According to Mr Kuru the activities of RIMAN remains essential to the operations of AMCON, especially in the area of credit risks.
He noted that out of 14,000 bad credits that were transferred to AMCON at inception, about 70 percent went bad at various banks due to adherence to laid down principles of credit process and policies, which was a reflection of poor risk management.